Today I want to dispel a few myths for you and in turn, enlighten you on the pros of purchasing and exchanging leads. It’s a well-known fact that many leads turn out to be ‘duds’ when you purchase a large list of leads for your company; similarly, you may be purchasing leads that are not really beneficial to your company or your business. I want to show you, with a few scenarios, why it makes sense to purchase quality leads, and how to do that!
Scenario 1:
Many people think that purchasing 20 cents worth of leads is equivalent to purchasing 50 cents worth. Oftentimes they believe it’s simply a name, an email address, and perhaps a phone number, but this is WRONG!
Solution:
The average list provider has a 30% bounce back rate in their database. You might think this is a steal considering you only paid $0.20 per lead. When you have 30% bounce back you must also consider that your employee is spending 30% of their time with leads that no longer exist. In a generation where the entire world is trying to use technology to do certain jobs, and is intensely focused on cost-savings, one could not – and should not, have to sacrifice money, time, and employees to less-than-perfect leads. It’s important to note that in this scenario it isn’t only about the actual cost of the lead itself, but rather the cost overall of acquiring a list of ‘duds’.
Scenario 2:
What many people don’t know is that lead providers charging around $0.20 per lead is only cleaned and vetted semi-annually, annually, and sometimes even never! This means that your leads will have a much higher chance of being faulty, useless, or even non-existent. Studies show that 2% of people change jobs daily, so if the lists are only being cleaned every 6 months, a year, or not at all, the likelihood of having useful and successful lead data is much lower.
Solution:
By using a provider that cleans the data on a consistent basis, you should always have a delivered rate (or success rate) of over 90%. In the business of lead generation it is difficult to hit 100% as people’s jobs and companies themselves are changing so rapidly. However, this just goes to show that spending a little more on your leads will provide you with valuable cost-savings for your company!
Scenario 3:
Cheaper leads may seem like the right choice in the moment, but another consideration is security. Leads that cost $0.20 per lead is often not verified for threats, duplicates, honeybot, etc. In addition, emailing non-existent leads will add a spam flag to your email account, which will actually decrease your chance of reaching out to a lead. So, be sure that you’re getting quality leads that are secure in an effort to avoid damaging your company’s reputation and your chance at a successful sale.
Solution:
When looking at the price of leads one must take into consideration the cost of labour for the employee who is using the cleaned quality list for $0.50 or the inaccurate bounce back list at $0.20. The list costing you the lesser amount might seem like a great deal at the time, but is almost certain to cause headaches in the future. Oftentimes it’s important to invest a little bit more up-front in order to ensure that you receive secure, quality leads to help your company succeed in their sales goals.
Our next blog will show you a complete cost structure of the above, and build on the idea of cost-savings through lead acquisition for your business.
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